Jorge is 55 years old and earns a living running his own business, a greengrocer's which he bought approximately a year ago. It is situated in the central park of his home town so it is very busy. He gets help from a sister who does the accounts and when the shop is busy she also helps to serve the customers. In this way Jorge is able to generate enough income to contribute towards his household expenses.
Currently he is asking for the loan to buy wholesale stock (fruit and vegetables in season) which will allow him to have enough stock to meet the demand for products and face the various challenges caused by unexpected rises in food prices. This affects his finances and his customers since the prices are very variable and unstable. By doing this he will be able to increase sales and the income he makes.
Jorge says he wants to continue working hard to move his business forward and so fulfil his dream of buying his own shop where he can do his business, giving him better profits and better income, so he can improve his parents' wellbeing and quality of life.
Jorge, a sus 55 años de edad, se dedica a trabajar en su propio negocio, una legumbrería que adquirió hace aproximadamente 1 año, ubicado en el parque central del municipio donde reside por lo que es muy concurrido, cuenta con el apoyo de una hermana que le colabora llevando las cuentas y cuando hay mucha afluencia de clientes también apoya atendiendo el negocio; de esta forma genera los ingresos suficientes para aportar a la economía de su hogar. Actualmente solicita el crédito con el fin de invertirlo en la compra de surtido al por mayor (frutas y verduras en cosecha), lo que le permitirá tener suficiente inventario para satisfacer la demanda de productos y enfrentar los diferentes desafíos que se le presentan por las alzas inesperadas de los alimentos, lo que le afecta tanto su economía, como la de sus clientes ya que los costos son muy variables e inestables; así tendrá la posibilidad de aumentar las ventas y los ingresos que recibe. Jorge manifiesta que quiere seguir luchando arduamente para sacar su negocio adelante y así poder cumplir el sueño de adquirir un local propio en el que pueda realizar su labor, generando mayor rentabilidad y mejores ingresos, para dar a sus padres un mejor bienestar y condiciones de vida.
This loan is structured on Kiva as a bullet loan, which means a single payment is required at the end of the loan term. By Colombian law, Kiva's partner Interactuar is required to offer borrowers loans with a variable interest rate that fluctuates with the market rate. Because fixed monthly payments are applied first to interest and then to principal, Interactuar is unable to predict upfront what portion of each repayment would go towards the loan principal. This creates a challenge with Kiva's system, which doesn't allow for unpredictable principal payments, and can result in some Interactuar clients appearing falsely delinquent. To remedy this, the loan has an end-of-term repayment plan on Kiva, but the borrower will continue scheduled monthly repayments to Interactuar, who will then pass along the principal amount to Kiva lenders. This means that you may see repayments made on this loan throughout the repayment term, as opposed to receiving repayment in full at the end of the loan term.